Austerity cultist Kenneth Rogoff continues to bore us with his broken record — Bill Mitchell

Summary:
His latest intervention (November 28, 2024) –Europe’s Economy Is Stalling Out – was published by Project Syndicate, which regularly gives space to these nonsensical mainstream articles.The simple proposition that Rogoff offers is:"As Germany and France head into another year of near-zero growth, it is clear that Keynesian stimulus alone cannot pull them out of their current malaise. To regain the dynamism and flexibility needed to weather US President-elect Donald Trump’s tariffs, Europe’s largest economies must pursue far-reaching structural reforms."And those structural reforms have to tackle the:"… bloated and sclerotic welfare states to blame?"Apparently, those that hold to the most basic macroeconomic rule that spending equals output and income and drives employment growth are

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